Saturday, July 16, 2016

My Unfair Advantage


  1. Resources:
    1. excellent cook
    2. efficient
    3. already own the large crock pot/pots/pans necessary for mass meal production
    4. I live alone, making dirtying the kitchen easy
    5. My workload allows ample time to make meals
    6. I already have 10+ great recipes
    7. I have great people skills
    8. The start-up costs will be very low, and I have the money for them.
    9. I already have potential customers.
    10. My business will run heavily off of work of mouth, which for me is a good thing.
  2. VRIN
    1. excellent cook
      1. Valuable: it is necessary to my service quality
      2. Rare: this is a rare quality in a college town
      3. Inimitable: it takes years to learn
      4. Non-substitutable: when making food, nothing can replace the taste of well-made food
    2. efficient
      1. Valuable: I will make more per hour of my time by being more efficient
      2. Rare: this is probably not a rare quality
      3. Inimitable: efficiency is key to running a business
      4. Non-substitutable: no other quality can replace efficiency
    3. already own the large crock pot/pots/pans necessary for mass meal production
      1. Valuable: lower start up costs
      2. Rare: college students do not own these tools
      3. Inimitable: these tools are necessary for meal preparation 
      4. Non-substitutable: smaller tools will work, but would be very less efficient
    4. I live alone, making dirtying the kitchen easy
      1. Valuable: this will be a messy business, and living alone lets me make a mess without regard for anyone else
      2. Rare: most people have roommates that will complain about messes (naturally)
      3. Inimitable: this will lead to more efficiency for
      4. Non-substitutable: even a larger kitchen would not help me, as my roommate would need to cook/ue our kitchen at ome point while I
      5. m covering every surface.
    5. My workload allows ample time to make meals
      1. Valuable: I can take classes, work, and do this on the side
      2. Rare: My work schedule is more flexible than most
      3. Inimitable: it takes a lot of pre-planning and good luck to get the schedule I have
      4. Non-substitutable: no other resource can give me more free time
    6. I already have 10+ great recipes
      1. Valuable: less front work I would need to do
      2. Rare: most college kid don't have legitimate recipes int heir won recipe books
      3. Inimitable: probably pretty easy for someone else to come up with recipes
      4. Non-substitutable: the recipes are the backbone for my concept, cannot substitute recipes for anything
    7. I have great people skills
      1. Valuable: for meeting/keeping customers
      2. Rare: not a rare quality
      3. Inimitable: it is a relatively innate quality, though it can be learn-able
      4. Non-substitutable: my business will run off of word of mouth and face-to-face interaction
    8. The start-up costs will be very low, and I have the money for them.
      1. Valuable: keeps costs low, of course this is valuable
      2. Rare: many business concepts have very high start-up costs
      3. Inimitable: any business with low start-up costs has the same advantage
      4. Non-substitutable: saving money is key
    9. I already have potential customers.
      1. Valuable: already have a source of income, plus word-of-mouth advertising will begin immediately
      2. Rare: not rare to line up customers before starting a business
      3. Inimitable: not inimitable
      4. Non-substitutable: customers are necessary!
    10. My business will run heavily off of work of mouth, which for me is a good thing
      1. Valuable: potential customers will hear from a trusted source/friend how good my service is
      2. Rare: not rare, lots of businesses are based on word-of-mouth
      3. Inimitable: not inimitable
      4. Non-substitutable: there are other forms of advertising that would do the job f letting people know about the business, but word of mouth is so great because people hear about the product from someone that they trust.
  3. Top Resource: my cooking capabilities. I have a certain style of cooking that is my own, and I am good at what I cook. Others are also good cooks, but maybe they do not choose to combine the same ingredients I do for the certain taste I enjoy. I think my proficiency at cooking is my best resource.

5 comments:

  1. Sarah,

    I share running a business which word of mouth will play a significant factor in being successful. It is not rare but it is very valuable. I also think the combination of low start up costs with a solid number of start up recipes and materials will help you in your venture. Stay focused and cultivate those potential customers which will expand through word of mouth and make your venture successful. Excellent work.

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  2. Hello Sarah, it is great that your best resource is the one that would theoretically be the most important. I think that this in combination with your other skills will help you greatly in achieving the success you seek for this project.

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  3. I think that your top resource is essetial to starting the business that you're talking about. You have an advantage over those who have similar ideas but don't cook well. However, you have to keep in mind that it is a skill that people can learn so you much always be trying to imporve yourself.

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  4. Yeah I agree that cooking abilities are probably the most valuable of all these resources, because with out that the rest of the business would kinda fall apart. But you do have that so you're in good shape. Also just wondering how much would you actually charge for this service, cause depending on the price I could be your first customer. For realz.

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  5. I love your determination, and I agree that that your cooking skills & use of your environment is a great asset. Combining your resources and recipes is a great way to set you apart from the competition. I think that if you continue to move forward with this mindset, including word of mouth, then your idea will be highly successful.

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